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Is your cash Going up in Smoke

Is your cash Going up in Smoke

Is your cash Going up in Smoke

New figures have shown that the biggest outgoing problem facing families for the first time are their Energy and Housing bills. It was recorded that in 2012, the average household was spending a total of £489 a week, which is down from £526 almost a decade ago before the recession hit the UK. Families have now started to cut back on unnecessary journey or trips as the price of diesel and petrol continue to rise, however they have began to spend more on other luxuries such as clothes, and despite the bleak picture that is being shown many have continued to renew their expired gym membership and take regular holidays to exotic destinations.

The Office for National Statistics said the pressure which is placed on families regarding finance has left many people trying to spend less on transport and more on essential things such as food. But with the sudden increase of energy bills from the ‘Big Six’ and other smaller companies, it has left people with very little to do regarding their lighting and heating expenditure for their homes. Household bills for things like electricity and fuel overtook transport as the largest single cost in 2012 with £68. With figures showing that council tax and mortgage bills account for £46 per week.

The Office for National Statistics said: ‘The highest spend in 2012 was on housing, fuel and power (excluding mortgages) for the first time at £68.00, overtaking transport spending.

‘This category includes electricity, maintenance, rent and fuel. The rise is likely to have been driven in part by rises in gas and electricity prices, and this is an area where there may be limited scope for many households to reduce consumption.

‘The cold winters of both 2011 and 2012 also contributed to essential spending on heating, with this year just to be as bad if not worse.’

It is due to the soaring energy bills that many people are finding it harder and harder to budget their money and make ends meet, all because David Cameron has failed to stand up to the energy companies and shop them overcharging.